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1. Use this USA Federal and State Income Tax Salary Calculator for 2019-2020 to find out how much of your income you can take home, and how much of it you need to pay taxes or payments such as Federal taxes, State taxes, Medicare, Social security, FICA (Federal Insurance Contributions Act).
2. Whichever is the higher of the state minimum wage and the federal minimum wage is the amount that employers must pay their hourly staff.
3. According to the congressional act of USA, employers must pay their staff a minimum amount on an hourly basis.
4. Even if you have requested a time extension, you must pay this interest as the extension only applies to the time that you have to pay the taxes.
5. You can use this EIC Calculator to calculate your EIC based on the number of qualifying children, total earned income, and filing status.
6. When you provide necessary information into calculator, and you will see a full breakdown of how much tax you will be paying and the amount of tax that falls into each bracket.
7. You will be able to determine which tax rate applies to you for the current tax season, which allows you to go on and determine how much tax you will be paying based on your income.
8. This federal minimum wage currently stands at $7.25 per hour, but many states have their own minimum wage.
9. This IRS Interest Calculator is designed for the use of individuals (both single and married) and not for the use of companies.
10. Furthermore, the IRS interest rates which this calculator uses are updated at the end of each tax quarter.
11. Each year, federal tax rates are changed meaning that each year, the tax you pay will most likely differ from the previous year.
Liked USA Tax Calculators? you may also like other Finance apps like Hurdlr: Mileage, Expense & Tax; H&R Block Aus DIY Tax App; Australian Taxation Office; ANNA Business Account & Tax; Tax GO;